News
PMB declines to release Rs 1.2 bn FD for paddy purchasing
Treasury forced to bear responsibility for Rs 2 bn in loans
By Shamindra Ferdinando
State Finance Minister Ranjith Siyambalapitiya has said that the State Banks weren’t in a position to release funds to the Paddy Marketing Board (PMB) as the enterprise owed them a staggering sum, running to over Rs 20 bn.
Due to the failure on the part of the state enterprise to settle previous loans, the Treasury has been compelled to accept the responsibility for repaying them, the State Minister said.
The Kegalle District lawmaker said so on the live political programme, Salakuna, telecast on Hiru on Monday night. The State Minister was responding to interviewer Chamuditha Samarawickrema’s query regarding the inordinate delay on the part of the government to implement the paddy purchasing scheme.
Referring to Agriculture Minister Mahinda Amaraweera’s abortive efforts to obtain the required funding, lawmaker Siyambalapitiya said that the Treasury was helpless.
State Minister Siyambalapitiya said the PMB couldn’t be faulted for the crisis as successive governments had directed the state enterprise to purchase paddy at a higher price, then ordered it to sell at a much lower price, thereby causing staggering losses.
The State Minister also acknowledged management level shortcomings and political interventions caused the ruination of the PMB.
The PMB owed the Bank of Ceylon and the People’s Bank Rs 1,600 mn and Rs 690 mn, respectively.
The State Minister acknowledged that the issue couldn’t be resolved in spite of interventions made by President Ranil Wickremesinghe and Premier Dinesh Gunawardena. Referring to a subsequent discussion he had with the Secretary to the Treasury Mahinda Siriwardana, lawmaker Siyambalapitiya said that the BOC has asked for Rs 1.2 bn fixed deposit as security though the PMB declined to do so. According to the State Minister the PMB asserted that it couldn’t forgo the fixed deposit as the
interest received was utilized for day to day running of its operations.
The State Minister said that the banks could release the required funding on the basis of a guarantee given by the Treasury. The lawmaker explained the inability on the part of the Treasury to give such a guarantee as further deterioration of public finance could have a devastating impact on the banking sector. Such an eventuality couldn’t be allowed, the SLFPer said.
The Minister acknowledged that the failure on the part of the government to launch a paddy purchasing scheme would dishearten the farmer community.
Chamuditha Samarawickrema pointed out that the private sector had managed their ‘operations’ in a much better way.
The State Minister said that the situation was so bad that of the recent Rs 93 mn public sector salary bill, the government could meet Rs 82 mn. The government had no option but to ask those state enterprises to pay salaries from their funds, pending repayment, the MP said, reiterating the Treasury couldn’t help the PMD at the moment.
Responding to further questions, the State Minister said that the government would definitely give priority to the PMD issue once they finalized public sector salary payments. The Minister urged the media not to pursue an agenda detrimental to the government’s recovery efforts. Asked to explain, the State Minister said that there had been accusations the government didn’t purchase paddy to clear the field for the private sector. The Hiru team pointed out that the banks had released substantial amounts to the private sector to purchase paddy. The Minister explained the banks tried their best to help but circumstances were such the government couldn’t help at the moment.
South Korean MPs have voted to impeach President Yoon Suk Yeol as thousands of protesters on the streets of Seoul cheer the result
A total of 204 MPs approved the motion to impeach Yoon, who plunged the country into political turmoil with a short-lived martial law declaration last week
Yoon will be suspended while the prime minister will serve as acting president. The constitutional court now has six months to rule on the impeachment.Yoon survived an impeachment vote last weekend and has clung to power, despite mounting calls for him to step down He and and his allies are currently under investigation for insurrection charges, and a travel ban has been slapped on several of them
(BBC)
High Commissioner of India to Sri Lanka, Santosh Jha, called on Prime Minister Dr. Harini Amarasuriya, at the Prime Minister’s Office on Friday [13].
The meeting underscored the longstanding friendship and strategic partnership between the two neighboring nations and discussions centered on the progress of numerous bilateral projects, which are currently at various stages of development.
[Prime Minister’s Media Division]
Asoka Sapumal Ranwala resigned as Speaker of Parliament yesterday amidst a controversy over his educational qualifications. The Opposition challenged him to prove his claim that he had a doctorate.
Ranwala has said in a statement that he never misrepresented his educational qualifications but he currently lacks documentary evidence to prove his academic credentials. He insists that he was awarded a doctorate by a research institute affiliated with Waseda University in Japan and has expressed hope of presenting the degree certificate in the future.
“However, given the confusion surrounding this issue and to avoid causing embarrassment to those who trusted and voted for this government, I have decided to resign from the position of Speaker for the time being,” Ranwala has said in his statement.
His resignation followed indications that MPs from the JVP/NPP government were preparing to make a significant decision on a no-confidence motion against him, centred on the legitimacy of his academic qualifications. The motion was prompted by ongoing doubts about the authenticity of his doctoral degree, particularly in the absence of clarification.
Sources within the NPP confirmed earlier on Friday that Ranwala was expected to address the controversy with a special statement when Parliament reconvenes on Tuesday (17). However, he announced his resignation yesterday evening (13).
Kalutara District SJB MP Ajith P. Perera told the media on Thursday that either the Speaker or the JVP/NPP government must clarify the matter regarding Ranwala’s doctorate. He asserted that if the Speaker genuinely holds a valid doctorate, there would be no issue. However, the lack of response to media inquiries and the removal of degree-related information from the parliamentary website raised further concerns.
Perera added that the Speaker should provide evidence of his qualifications within two weeks, failing which the Opposition would proceed with the no-confidence motion. He also suggested that the JVP/NPP MPs would face public scrutiny in their decision to either support or oppose the motion, testing their commitment to party lines against public expectations.
The National Democratic Front (NDF), led by former President Ranil Wickremesinghe, proposed the establishment of a parliamentary committee to verify the academic qualifications of all MPs, including the Speaker and Cabinet Ministers. This initiative seeks to address increasing concerns about the credibility of MPs’ qualifications.
Meanwhile, the SLPP announced its intention to introduce a separate no-confidence motion against Ranwala. Speaking at a press conference in Colombo, Hambantota District MP D.V. Chanaka criticised the Speaker, arguing that the issue undermines public confidence in Parliament. Chanaka further highlighted the Speaker’s responsibility as head of the Parliamentary Council and the Committee on High Offices, which oversees the verification of qualifications for key positions.
SLPP Secretary Sagara Kariyawasam also addressed the press, emphasising the importance of the Speaker’s academic qualifications in upholding the integrity of Parliament.
South Korea MPs vote to impeach president after mass protests over martial law
Tom Latham, Mitchell Santner fifties prop up New Zealand
Khawaja, McSweeney steady for 13.2 overs before rain ruins day one of Gabba Test
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